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Elon Musk hinted that Tesla may get into the ride-sharing business

Tesla CEO Elon Musk seemingly confirmed that the company is working on a strategy for getting into transportation services.

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During Tesla's third-quarter earnings conference call, Musk was asked if the company was planning to get into an Uber-like business. Musk tried to keep mum, but when pressed he hinted that the company was at least entertaining the idea.

Elon Musk
AP

"There is a right time to make announcements, and this is not that time," Musk said during the call.

He added that the strategy for such a service was not yet "fully baked," which implies that the company has some semblance of a strategy.

Last quarter during its earnings call, Musk was also asked about its potential plans for a ride-sharing business or if it would someday sell its cars to mobility companies like Uber. But Musk declined to comment.

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Tesla, of course, would not have to necessarily launch its own ride-sharing service to make a play in the space. The company could opt to sell its vehicles to companies like Uber that already offer rides on demand.

In July, Uber CEO Travis Kalanick said that he would buy half a million cars from Tesla if they were autonomous. Since then, Musk has said that the company will have its self-driving cars ready in about three years.

Tech Insider reached out to Tesla for additional comment on the matter and will update if we receive one.

Tesla Uber Elon Musk
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